U.S. Secretary of State Marco Rubio met Indian External Affairs Minister Subrahmanyam Jaishankar in Mumbai on Tuesday, October 20, as both countries moved closer to finalizing a long-awaited trade agreement and strengthening cooperation in energy, defence and technology. Rubio expressed optimism about the negotiations, saying the two nations were extremely close to reaching a deal, with only a few outstanding issues remaining. The discussions focused on expanding bilateral economic ties, addressing trade barriers and strengthening regional cooperation. The two ministers also participated in a trilateral meeting with United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan to discuss regional energy security and shared economic priorities.
Trade relations between Washington and New Delhi have faced challenges since the United States imposed tariffs of up to 50 per cent on most Indian goods in August 2025, partly amid disagreements over India’s continued purchases of Russian oil. Although a framework agreement reached in February reduced the tariff rate to 18 per cent, negotiations subsequently stalled. Earlier this month, Indian Finance Minister Nirmala Sitharaman acknowledged that talks had reached a standstill, while Commerce Minister Piyush Goyal later indicated that the first phase of an agreement was nearing completion. India has maintained that its final tariff arrangements should remain competitive with those offered to other major manufacturing economies, including Vietnam.
Energy cooperation remains a central component of the negotiations, particularly as India seeks to diversify its oil imports while maintaining affordable energy supplies. Despite Washington’s concerns over Russian crude purchases, Rubio acknowledged India’s efforts to broaden its energy sources and emphasized its importance as a strategic U.S. partner in the Indo-Pacific. The United States continues to view India as a key regional counterweight to China, with defence and technology cooperation remaining major priorities. Rubio is scheduled to visit Reliance Industries’ Jamnagar refinery in Gujarat on Wednesday and meet business leaders. The visit follows President Donald Trump’s announcement in March that Reliance Industries would invest $300 billion in a new oil refinery project in Brownsville, Texas.
